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Trading Made Simple

  • #67,361
  • Mar 23, 2016 12:52pm Mar 23, 2016 12:52pm
Quoting omonisha
{quote} Welcome Juan. Wish your journey with TMS will be smooth. Stick to simple rule PA+TDI. Hone your skill on entry and exit. Management is the second chapter. Nice trading on GU yesterday. Very Good Luck
Thanks a lot!!!

I think my entries aren't that bad. But need to manage better my exits. Exiting or moving my SL to BE too soon.

One thing that changed my trading was risk management. I wasn't managing my risk at all.

Actually 2016 is my 3rd year (so I started trading almost two years ago). Already blew up an account, and after some months away from the markets decided to come back. But this time following a plan, managing risks, and trying to understand what I'm doing Thanks god I found TMS

Regards and thanks a lot for your words!!!!
  • #67,362
  • Mar 23, 2016 2:15pm Mar 23, 2016 2:15pm
Quoting catalin_eros
{quote} Assuming the candle would have closed under it, an aggressive trader would take it without the confirmation from the indi, while a conservative trader would take it only with confirmation. Since TMS is related to the TDI, I think you will say that we must wait for indi confirmation. I'd like to know your answer, because although many do not ask, they are curious about it.

Hi,

If the H1 candle would have close below that Mother Bar and also below that H1 WRB low, the TDI would have pointed downwards and shown a good angle for a sell setup.
That would be Plan A to trade the CONTINUATION of the previous Day candle bias.
But the next candle closed above the WRB High and the TDI is Green above Red. This would be Plan B trade which is counter trend to the previous Day.

Trading H1 Intraday is very difficult therefore we need to be fast thinking and well prepared for different possible scenarios. Therefore I always have a Plan A and a Plan B. In worst case, I have a Plan C too.


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar 23 H1 GMT0730 update.png Size: 46 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,363
  • Mar 23, 2016 2:18pm Mar 23, 2016 2:18pm
Quoting MoneyTalks58
{quote} Both of the trades hit the SL. A terrible start.
A brilliant start in my opinion, look at your trades and learn from them.. Its better that you start with a loser thank a winner because a loser will teach you more than a winning trade..

Let the pain of these losses motivate to trade better, if this is the beginning of your trading journey, I hope you enjoy your study and reach the fruits of your labour..
It's in fear when people show what they truly value.
  • #67,364
  • Mar 23, 2016 2:20pm Mar 23, 2016 2:20pm
Quoting MoneyTalks58
{quote} Both of the trades hit the SL. A terrible start.

Don't worry too much about having some losing trades.
Big E who is so experience to picked only the best trade setups also had 20 to 30% losing trades.
Just pay attention to world events, market always pick the safe haven USD.
Therefore we always trade with stop loss to protect our capital.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,365
  • Mar 23, 2016 2:23pm Mar 23, 2016 2:23pm
Quoting TheScorpS
EA trades for the day , +21 + 30 , third trade was for +50 pips , +101 pips for the day {image}



very nice.
That is my Plan B trade...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,366
  • Mar 23, 2016 2:26pm Mar 23, 2016 2:26pm
Quoting emmanuel7788
{quote} Don't worry too much about having some losing trades. Big E who is so experience to picked only the best trade setups also had 20 to 30% losing trades. Just pay attention to world events, market always pick the safe haven USD. Therefore we always trade with stop loss to protect our capital.
​Hi Emm, please explain why the usd pairs are best for newer traders? is it just the volitility of the cross pairs? Reagrds
  • #67,367
  • Mar 23, 2016 2:27pm Mar 23, 2016 2:27pm
Quoting AcanaTrader
Plan for EURUSD {image}

This Euro buyers still must wait. Market jitters.
I don't see it happening yet and with the long weekend holidays ahead, I stay away until next Tuesday.
I am off to a super long weekend from tomorrow.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,368
  • Mar 23, 2016 2:33pm Mar 23, 2016 2:33pm
Dear Emm and Ensale,

Thank you very much for your support. Today the EURCAD long seems reasonable for me. Because of I try demo I can overtrade a little bit. Like Ensale said, if these are bad trades, I am going to analyze them and getting understand better.
Attached Image (click to enlarge)
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  • #67,369
  • Mar 23, 2016 2:34pm Mar 23, 2016 2:34pm
Quoting tibovwh
Hi, What do we think about yesterdays candle on GBPUSD? {image}

Hi,

I don't have to think too hard with this one.
When the previous 2-days low got taken out, I cut my losses short.... Darvas trading rule.

regards.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 2Days low taken out.png Size: 97 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,370
  • Mar 23, 2016 2:51pm Mar 23, 2016 2:51pm
Quoting catalin_eros
{quote} Thanks, Emm! I have just closed it, based on the fact that I see consolidation right now at S area, so it's better to take what market gifted me with. I've never used CM, but I might give it a try in the future. Do you have a script that plots R multiples, based on the distance between EP and SL? For example, SL to EP is 100 pips, I want Tp1 100pips from EP, Tp2 100 pips from Tp1 and so on. I know you had one that used fibs as targets, but I do not want that one, because the distance is differently calculated.
Hi,

You don't need to use CavManager CM when you trade H4 and above. You have plenty of time to manage your trades manually.
But learning how CM work, you will learn a lot about trade exits and how to manage the exits. Let the EA teach you without having to use it.

Abot R and R-Multples;

Trade Management................
R-Multiple post#15,915
R and R-Multiple Post#43,061

Those scripts are here:
http://www.forexfactory.com/showthre...58#post6843058

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,371
  • Mar 23, 2016 2:57pm Mar 23, 2016 2:57pm
Quoting Scrambleguy
{quote} ​Hi Emm, please explain why the usd pairs are best for newer traders? is it just the volitility of the cross pairs? Reagrds

Hi,

For new TMS traders, it is better to stick to these pairs AUDUSD, EURUSD, GBPUSD, USDCAD and for JPY pairs AUDJPY, EURJPY also USDJPY.

But stay away from those very volatile pairs like GBPJPY and EURxxx and GBPxxx.

Definitely no to AUDCAD and AUDNZD, leave these to professional speculators and spot forex gamblers.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,372
  • Mar 23, 2016 2:59pm Mar 23, 2016 2:59pm
Quoting emmanuel7788
{quote} This Euro buyers still must wait. Market jitters. I don't see it happening yet and with the long weekend holidays ahead, I stay away until next Tuesday. I am off to a super long weekend from tomorrow.
yes, agree
its hold on that level, i will see couple days ahead
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 57 KB
Joining The 10%
  • #67,373
  • Mar 23, 2016 3:03pm Mar 23, 2016 3:03pm
Quoting JuanRoteta
{quote} This is my first post in here. I've started trading TMS at the beginning of the year and so far so good. I've been trading for three years now and this is the first time I'm profitable. Because of my work many of my trades are taken from my cellphone. I will share some trades when possible. Just wanted to let you know that I took that trade. Sold GU at Sydney open yesterday, and when I woke up this morning my 50 pips TP was hit. And could have taken 100 pips. But I'm not greedy and happy with my 50 pips. I'm in Argentina (GMT -3) so I try...

Hi,

For now it is better you stick to what you are doing with single entry trades and work hard at achieving a high win rate and consistency.

ME/ME money management strategy is for active TMS traders who have been trading from 3 to 5 years.

You may want to read the following post:

Money Management
Big E on using multiple entries in the CHS thread
Post#2622 , Post#2629 , Post#2771 and Post#2912
Money Management Strategy for TMS: Post#48,008
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507
Entry and Exits: Post#24,918 Post#18,422 Post#19,617
How to Build a Position: Post#19,588
Multiple Entries / Multiple Exits for Day chart trading: Post#58,726
Multi-Lots Buy/Sell scripts : Post#55,407

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,374
  • Mar 23, 2016 3:09pm Mar 23, 2016 3:09pm
Quoting MoneyTalks58
Dear Emm and Ensale, Thank you very much for your support. Today the EURCAD long seems reasonable for me. Because of I try demo I can overtrade a little bit. Like Ensale said, if these are bad trades, I am going to analyze them and getting understand better. {image}

Hi,

You can learn a lot doing demo trade.

After that Mar 10 ECB Day candle, the direction of the Euro and its crosses*** - EURAUD, EURCAD and EURNZD is not very clear. So best to trade the lower TF H4 and H1 always look to the left of our charts for the most recent support and resistance.

***stay away from EURCHF, its SNB's favorite pairs.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,375
  • Mar 23, 2016 3:09pm Mar 23, 2016 3:09pm
[quote=emmanuel7788;8832657]{quote} Hi, For new TMS traders, it is better to stick to these pairs AUDUSD, EURUSD, GBPUSD, USDCAD and for JPY pairs AUDJPY, EURJPY also USDJPY. But stay away from those very volatile pairs like GBPJPY and EURxxx and GBPxxx. Definitely no to AUDCAD and AUDNZD, leave these to professional speculators and spot forex gamblers. regards,[/quote

​Thank you Emm
  • #67,376
  • Mar 23, 2016 4:58pm Mar 23, 2016 4:58pm
Quoting emmanuel7788
{quote} Hi, I don't have to think too hard with this one. When the previous 2-days low got taken out, I cut my losses short.... Darvas trading rule. regards. {image}
Yep the invalidation is clear here. Fortunatly I was not long. I was also interested in what you thought about a potential short setup. It doesn't really fit all the rules:
- TDI crossed
- 5EMA crossed
- Entry would be APB#3
- No clear PA pattern

Today I see it is a Swing High that broke the Rising trendline Omonisha talked about. Green is somewhat less steep of an angle tho. Also now entry is APB#4.

Would greatly appreciate your opinion. And perhaps my question is more general: How do we treat the TMS-5 rules on D1 chart? Can we enter more late and err on the conservative side? Or should we pass on any trade that violates one aspect? i.e. the early bird...

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-03-23 22.58.16.png Size: 63 KB
  • #67,377
  • Mar 23, 2016 5:06pm Mar 23, 2016 5:06pm
just entered short on usdjpy
H4 tdi cross
  • #67,378
  • Mar 23, 2016 5:35pm Mar 23, 2016 5:35pm
Quoting tibovwh
{quote} Yep the invalidation is clear here. Fortunatly I was not long. I was also interested in what you thought about a potential short setup. It doesn't really fit all the rules: - TDI crossed - 5EMA crossed - Entry would be APB#3 - No clear PA pattern Today I see it is a Swing High that broke the Rising trendline Omonisha talked about. Green is somewhat less steep of an angle tho. Also now entry is APB#4. Would greatly appreciate your opinion. And perhaps my question is more general: How do we treat the TMS-5 rules on D1 chart? Can we enter more...

Hi,


The same basic TMS 5-Method rules apply to D1 chart trading also. I have my other 'system' way to define the buy and sell zone, where I would trade with TMS 5-Method and there no trade zones where I will trade with lower risk.

The setup candle was Tuesday' Mar22 D candle close. That candle close below that D1 WRB Low and the TDI cross down. So the sell entry was yesterday's candle... APB#2. Today is APB#3. .. still good but your initial SL would be 2-days look back high i.e. above the setup candle.

I am not the early bird type of trader. I prefer to be second mouse who will eventually get the cheese.

Attached Image (click to enlarge)
Click to Enlarge Name: tibovwh GBPUSD D1 trade 23MAR.png Size: 147 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,379
  • Mar 23, 2016 5:41pm Mar 23, 2016 5:41pm
Quoting x-x
just entered short on usdjpy H4 tdi cross

Me too.
Today s Day candle looks like a nice pin bar. Nice angle for TDI on H4, it s the second Bearish APB candle for me on H4. Stoch s agree.

What do you think? DId anyone skip this trade ? If yes, why?

Green pips to all,
Bill
focus, manage risk, rinse, repeat
  • #67,380
  • Mar 23, 2016 8:41pm Mar 23, 2016 8:41pm
Quoting bill992
{quote} Me too. Today s Day candle looks like a nice pin bar. Nice angle for TDI on H4, it s the second Bearish APB candle for me on H4. Stoch s agree. What do you think? DId anyone skip this trade ? If yes, why? Green pips to all, Bill
Hi,

I traded this pair on Monday ... sell with ME/ME and had to cut loss yesterday.

If I have to give one reason why that H4 setup was risky, it is seen on the D1 chart. The TDI pointing up indicating positive price momentum with rising prices but those D1 candles are small. The market is sideways with that D1 WRB on March 17.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 12 D1 bullish small candles.png Size: 34 KB


This week is not 'normal' because of world events and the various markets remains jittery and USDJPY is a carry trade pair.
It is better to stay out until next week.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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